Tag: #PartnerRe

Bermuda-based AXIS Capital Holdings Limited and PartnerRe Ltd. said they reaffirmed their “commitment to a superior proposal to the terms contemplated by EXOR’s proposed exchange offer for PartnerRe preferred shares, as revised on July 20, 2015, provided that the Companies receive a private letter ruling from the IRS that the change in terms... Read more of this article

According to AXIS Capital Holdings Limited, its merger agreement with PartnerRe Ltd. “is superior to the EXOR offer both immediately and in the future.”
The company said, “We provide continuity of interest for investors to participate in the future upside resulting from the substantial strategic and financial benefits of the combined... Read more of this article

PartnerRe Ltd. confirmed that it has received a revised acquisition proposal from EXOR S.p.A, offering a $3.00 per common share special dividend.
The company said, “In response to EXOR’s revised offer, its sixth revised proposal, the PartnerRe Board has determined that the latest EXOR proposal would reasonably be likely to result in a “Superior... Read more of this article

AXIS Capital Holdings Limited and PartnerRe Ltd announced enhanced merger terms that increase to $17.50 per common share the one-time, special cash dividend payable to each holder of record of PartnerRe common shares immediately prior to the closing of the amalgamation between PartnerRe and AXIS Capital.
A statement from the two Bermuda-based re/insurers... Read more of this article

PartnerRe Ltd. and AXIS Capital Holdings Limited said they are “jointly exploring enhancements to the terms of their amalgamation agreement.”
“As a result, the special meetings of PartnerRe and AXIS Capital shareholders to approve the amalgamation agreement that were originally scheduled for July 24, 2015 will now take place on August... Read more of this article

Sandell Asset Management Corp today [July 9] issued a public letter to Jean-Paul Montupet, Chairman of the Board of Directors of PartnerRe Ltd. to express their “continued concern that the ongoing actions of the Board raise significant questions about the Board’s commitment to a fair process and are inconsistent with corporate governance best... Read more of this article

EXOR is today [July 7] holding an Investor Meeting in New York for all PartnerRe shareholders, where John Elkann, Chairman and CEO of EXOR, will present what the company said were “further enhancements” to EXOR’s Binding Offer “making an already superior offer to PartnerRe Common and Preferred Shareholders even more attractive.”
PartnerRe... Read more of this article

PartnerRe Ltd. has urged shareholders attending EXOR’s presentation on its unsolicited offer to acquire PartnerRe to “demand substantive and factual answers to critical questions.”
“To date EXOR has either avoided answering important questions altogether or has provided misleading or incomplete responses to shareholders’ concerns,”... Read more of this article

The AXIS/EXOR/PartnerRe business matter continues, with EXOR — the largest shareholder of PartnerRe Ltd. — sending an open letter to all PartnerRe employees who are shareholders, urging them to vote the Gold proxy card against the AXIS amalgamation agreement.
In January 2015, Bermuda-based PartnerRe announced they had signed a “definitive... Read more of this article

Bermuda-based PartnerRe Ltd. yesterday [June 17] announced that its Board of Directors has sent a letter to shareholders in connection with the previously announced amalgamation with AXIS Capital.
“PartnerRe reaffirms its recommendation of the AXIS transaction and urges shareholders to vote for the amalgamation agreement with AXIS Capital ahead... Read more of this article